LIFETIME MORTGAGES
Unlocking the smart way to fund your future
Transform your property’s value into tax-free cash with a Lifetime Mortgage
WHAT IS IT?
A lifetime mortgage is a popular type of equity release product that allows homeowners aged 55 and over to release tax-free cash from the value of their property while retaining full ownership.
Unlike traditional mortgages, you don’t have to make monthly repayments. Instead, the loan and any accrued interest are repaid when you pass away or move into long-term care, usually from the sale of your home.
Benefits of a Lifetime Mortgage
Unlock tax-free cash with no monthly repayments, flexible options, and inheritance protection
- Tax-Free Cash: The funds you release from your home can be used for any purpose, such as home improvements, paying off debts, or supplementing your retirement income.
- No Monthly Repayments: You don’t need to make any monthly repayments unless you choose to. The loan is repaid when your home is sold.
- Flexible Options: Lifetime mortgages offer various options to suit your needs, including lump sum, drawdown, and enhanced plans for those with certain medical conditions.
- Inheritance Protection: Some plans offer the option to protect a portion of your home’s value as an inheritance for your loved ones.
GOOD TO KNOW
It’s a regulatory requirement set out by the FCA to speak to an adviser before taking equity release, but here are some questions we get asked regularly...
Yes! With an Equity Release plan, all the cash you receive is completely tax-free. Compare the best Equity Release deals and see how much cash you could unlock.
While providers may vary, the minimum age to be eligible for a Lifetime Mortgage is typically 55 years old. If you have an existing mortgage or other debt secured against your property, this must be paid off either with the Equity Release funds or beforehand.
Yes, Equity Release can be used to purchase a new home, a holiday home, a buy-to-let property, or even a home with a B&B or Airbnb element.
The process usually takes about eight weeks to complete, with some applications finishing in as little as three weeks, assuming everything goes smoothly and there are no complications.
Expert advice and guidance
Contact Us
We understand that choosing the right equity release plan is a significant decision. Our experienced advisors are here to help you explore your options and make an informed choice that aligns with your financial goals and circumstances.